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Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS


Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to secure foreign coal blocks due to its alleged connection with Madhu Koda, the former Jharkhand chief minister charged with the Rs 4,000-crore scam.

CIL officials told FE that Jaguar was one of the 12 companies shortlisted from 52 respondent companies following an expression of interest floated by CIL in September. “CIL is considering joining hands with foreign coal mining companies for owning coal equity overseas either through equity joint ventures or asset-specific partnership.

According to the documents submitted, Jaguar has seven coal mines in Indonesia and produces above 1 million tonne a year. But later, CIL found the main signatory, Manoj Punamia, was among the persons involved in Koda’s scam and it immediately dropped the company from its list,” an official said. To read more Financial Express



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Recent News

Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...


Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...


Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands. The Viet Nam Coal ...


Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...


Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...


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